Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

Video walkthroughs and establishing a trusted boots on the ground are just as good plus save me hours and hours of driving!

My expectation is to keep some cash in each deal, but still aim to maximize how much I can refinance out to make the numbers work.I’ve been cautious about setting my expectations too high, and I appreciate the reminder to focus on deals that work rather than chasing perfection.

This may not seem important now but I’ve had two partnerships turn sour and if we’d have had an exit strategy on either it would have saved tens of thousands of dollars on legal fees and court costs.

For yourself, I'd save up enough to be able to house hack, and then house hack.Hope that helps.  

You'll maximize your returns from doing the complete project as well as a great learning experience!

It’s totally normal to feel overwhelmed when starting out, but it’s great that you’ve been saving and reading up on investing.

Literally to save their lives.

THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

This maximizes my return over a Niche property.